OC2006-371
2006-08-09
Municipal and Provincial Affairs
Local Authority Guarantee Act
The Lieutenant Governor in Council approves the following:
1. Under authority of the Local Authority Guarantee Act, 2005, and upon the recommendation of the Minister of Municipal Affairs, the Minister of Finance is authorized to issue such Government guarantees as may be required to enable the Town of Seldom-Little Seldom to borrow from a chartered bank, or other financial institution, an amount not exceeding $48,911, plus related accrued interest, for the purpose of financing the installation, including engineering and related costs, of a water and/or sewer projects.
2. The said loan of $48,911 plus accrued interest, is to be repaid on a date to be designated by the Honourable Minister of Municipal Affairs, out of the Budget provision of the Department.